PlayStation Network now supports PayPal as a payment option

Take one more step away from our broken banking system starting now, with a little bit of help from Sony. PlayStation Network users can now cover their online purchases with PayPal. That frees you up to use any of the online payment service’s cash-funneling tools (soon to include BitCoin, for you complete digital natives) in addition to PSN’s previously supported credit cards and prepaid card options.

The added support for PayPal means you can now select it in the PS Store on PlayStation 3 and PlayStation 4, as well as on the Sony Entertainment Network website. However, take note that only users in the U.S., Canada, Mexico, Chile, and Argentina can take advantage of the new payment option.

As an added level of security, Sony will not hold on to your PayPal account information in its network, instead prompting you to log in whenever you wish to add funds to your online Wallet. Step-by-step instructions for using both the console and the website can be found here.